Decriminalization redux + Cracking down on crypto money laundering + Newsom touts jobs
Good morning and welcome to the A.M. Alert!
ANOTHER ATTEMPT TO DECRIMINALIZE PSYCHEDELICS
Sen. Scott Wiener, D-San Francisco, is trying again to decriminalize certain psychedelic drugs in California.
Wiener’s office announced that it is filing a bill, SB 58, to decriminalize psilocybin (magic mushrooms), psilocyn, DMT, mescaline (though not peyote, which is considered sacred by many tribes) and ibogaine.
“Psychedelics have tremendous capacity to help people heal, but right now, using them is a criminal offense,” said Wiener in a statement announcing the bill. “These drugs literally save lives and are some of the most promising treatments we have for PTSD, anxiety, depression, and addiction. We need to end the outdated, racist, failed War on Drugs and finally pursue drug policies that help people instead of incarcerating them.”
This marks the San Francisco Democrat’s second bid to remove criminal penalties for possession and personal use of certain psychedelics.
A similar bill, SB 519, made it through the Senate last year before being squashed by the Assembly Appropriations Committee, which voted to turn the measure into a feasibility study.
The current bill is sponsored by the Heroic Hearts Project, a veteran service organization that connects vets suffering PTSD with psychedelic therapy.
Both Oregon and Colorado voters have approved ballot measures to decriminalize, and three cities in California — Oakland, San Francisco and Santa Cruz — are among those cities which have opted to remove criminal penalties for possession.
CRACKING DOWN ON CRYPTO MONEY LAUNDERING
As California Democratic congressmembers rush to give away donations they received from disgraced cryptocurrency exec Sam Bankman-Fried, a California Republican state lawmaker has introduced a bill, AB 76, intended to close a loophole that she says allows financial assets to be laundered through crypto.
“California is a leader in consumer protection and ensuring our laws reflect the growing and innovative technology used for day-to-day transactions. This technology has continued to evolve to now include cryptocurrency,” said Assemblywoman Laurie Davies, R-Laguna Niguel, in a statement. “It should also be noted that as we have seen a rise in drug trafficking, nefarious organizations are using this type of currency to escape detection and continue their illegal activities in the underground markets. California law must evolve to keep up with the digital operating methods of financial criminal organizations.”
The bill comes as Bankman-Fried was arrested and accused of a series of federal crimes, including wire fraud, securities fraud and money laundering.
AB 76 is sponsored by the California Conference of Bar Associations.
NEWSOM TOUTS THE LATEST JOB NUMBERS
The November job numbers came out Friday, and Gov. Gavin Newsom used the occasion to take a victory lap.
“California has added jobs for fourteen straight months and more Californians are working than ever before,” Newsom said in a statement. “The state also continues outpacing the nation in year-over job growth – all as millions of Californians are currently receiving the largest tax refund in history, boosting the state’s working families.”
The state added 26,800 jobs in November, with employment at an all-time high of 17.7 million.
California matched the pre-pandemic year-over job growth rate, which at a 4% annual pace is higher than the national average of 3.3%.
However, unemployment rose slightly, from 4% to 4.1%.
QUOTE OF THE DAY
“In its never-ending war against distributed energy generation — here, rooftop solar — the CA Public Utilities Commission slashed by 75% the credits solar owners get for excess energy produced. This means less rooftop solar when we need more.This move is tone deaf & just bad.”
- Sen. Scott Wiener, D-San Francisco, via Twitter.
Best of The Bee:
Samuel Bankman-Fried, the founder and CEO of embattled cryptocurrency exchange FTX, gave thousands of dollars to Democratic congressional candidates in California — and most of those candidates are now sending the money to charities, via David Lightman.
Looking beyond the abuses of enslavement, California’s Reparations Task Force at an Oakland meeting this week dug into racist state policies of the 20th Century as it worked to quantify harms committed against Black communities, via Marcus D. Smith.
This January, California’s minimum wage will rise to $15.50, via Andrew Sheeler.
California cemented its status as a pro-choice haven with a package of bills Gov. Gavin Newsom signed in September. The measures, which followed the Supreme Court’s decision in June to overturn Roe v. Wade, sought to protect abortion access both for Californians and those coming here from states with harsh anti-abortion laws, via Jenavieve Hatch.